STOCK EXCHANGE

Hawera Star, Volume XLVIII, 4 August 1924, Page 5

STOCK EXCHANGE

— A HOPEFUL TONE. .BY CABLE—PRESS ASSOCIATION-COPYRIGHT Received Aug. 4, 8.5 a.m. LONDON, Aug. 2. After a period of doubt and uncertainty, arising from the slow progress made by the inter-Allied Confei •ence, the Stock Exchange ha s during the past few days taken a more hopeful tone, and although the business done has been on a small scale, the giltedged market closed yesterday at the highest level of the week, a striking feature being a further improvement J* 1 high-class investment securities. This firmness is noteworthy, because the holiday season is now at"it s height. Apparently the Stock Exchange does not take a serious view of the Irish c}* sls . or at any rate does not expect that an acute stage will be reached till next session. The foreign exchange market has been largely dominated by the doings of the inter-Allied Conference, and the French franc has fluctuated accordinglv. At one time the rate moved to 88.90 on pessimistic reports of the failure to arrive at an understanding on the German loan question, but the latest news is much more hopeful regarding the prospect of the conference reaching a. successful conclusion and the rate'today is 84.90. This is really attributed largely to American buying. Firmness in the sterling exchange on New York is maintained, and to-day’ s rate is a shade over 4.42. This i s largely due to the high money rates rulinsr here and the low rates ruling in New” York which is causing American money to seek employment here. —Aus -NT Z Cable Assn.